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What to Know Now
It’s been a troublesome week for travelers with business in the EU or the UK, as Britain formalizes its plan to leave the bloc. With news of the formal Brexit, UK airlines and hotels took a tumble in step with the British pound, while airlines including British Airways slashed futures.
The immediate financial impact, of course, is only the beginning of the long term problems as companies and travelers alike consider the future of trade, visas and the flow of business across the continent. Already, HSBC plans to move 1,000 jobs out of the UK and into Paris while others have started a hiring freeze.
The good news is that the British pound is at a remarkable low against the dollar, so tomorrow’s business trip or vacation will be the cheapest in years.
Social Quote of the Day
In theory it sounds cheaper. In reality what you will see is hotels and such increasing rates to make up for the drop in the pound. We saw it with the drop in the Euro. All of these travel related companies tie their pricing to make up for currency drops.
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